If you are planning your estate, you have likely come across the trusts. However, trusts are surrounded by myths that discourage people from establishing them, causing them to miss out on the wealth of benefits that they offer. Read on to learn more about the myths of trusts and what the facts are. Myths About […]
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Later life planning is full of essential documents – Wills, trusts, and Lasting Powers of Attorney, to name just a few. Letters of Administration are another vital document you may need, but what are they used for? Read on to find out more about this potentially vital document. Letters of Administration Explained Simply put, Letters
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The use of trusts in the UK has exploded in recent years, with many people utilising them to protect their assets and safeguard money for their families. As more people are looking to use trusts for their estate planning needs, here are five things to consider when establishing a trust. 1. The Parties Involved There
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Trusts are an area of estate planning that is shrouded in myths. Many people are unsure of how they can use them to their advantage and may be under the impression that they are only for people with millions in assets. However, this is not the case – no matter your assets, there are many
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Many people will probably advise you to get a solicitor when it comes to estate planning. However, they don’t know that paralegals can actually do almost everything solicitors can and are often more specialised. What is a Paralegal? Paralegals are sometimes considered less knowledgeable than lawyers, solicitors, and barristers; however, this is often not the
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If you created a new Will after your marriage, you may already know that a new marriage revokes any previous Will that you created. But did you know that the same rules don’t apply to divorce? If you have recently divorced, you may be wondering how this affects your Will. There are many ways to
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Once you have created your Will, you might be tempted to put it away and not think of it again. Everything will have been drawn up exactly as you wanted it to be when you wrote it, with your assets going to your chosen beneficiaries. However, things can change, and your wishes and circumstances may
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The world of Inheritance Tax (IHT) is a minefield. As many people are unaware of how they can minimise the amount of Inheritance Tax payable on their estate, their estate can incur heavy taxes upon their death. The Planning Bee is here to help – keep reading for our complete guide to Inheritance Tax. What
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No one wants to be hit with a huge Inheritance Tax bill after a bereavement. However, new measures have recently been introduced to reduce this taxation, meaning you can leave more for your loved ones. What Is the Residence Nil Rate Band (RNRB)? A measure that enables an additional amount of your estate to be
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A Property Protection Trust (PPT) – also known as an Interest in Possession Trust – is a complex Will for two people, who own property between them. It has several caveats in it that cannot be changed after the death of the first person. PPT’s are not suitable for people who own property in their
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